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August 31, 2007

Blah Blah Blah

Filed under: World, Energy, Oil, Special Interest, U.S. — Rich @ 1:03 am

So now we are suppose to believe that we paid higher prices for oil then we should and that our Government had nothing to do with it? Well one thing for sure, they didn’t do anything to stop it, so I guess that means that they had nothing to do period. Well when your getting the pay off from the big boy’s, you become very idol until something comes up and you have to go do what you do best, LIE, LIE and LiE again. Now let’s get this straight, OPEC we have no control over except well nothing really, but our 7 sisters who pump the oil out of our own property, we should have some control over them , since we control the land leases? You would think huh! And BP who is a foreign oil company last time I looked, is pumping our oil out of our property, and they are all selling it back to us at OPEC prices! Well hell I thought it would be confusing, it’s not really, our Government is just standing by and letting all mentioned give us an equal share of the screwing, and not doing a thing to stop it. Hey this is what you created by putting your head in the sand, thinking it would pass you by. They can’t they don’t have enough of your money yet!

Big Oil did not manipulate U.S. gasoline prices: FTC
By Tom Doggett Thu Aug 30, 3:11 PM ET
WASHINGTON (Reuters) - Big oil companies did not conspire to raise U.S. gasoline prices last summer, as it was high crude oil costs and supply problems that caused the spike in pump prices, government investigators said on Thursday.
The Federal Trade Commission said that about 75 percent of the rise in gasoline prices was due to a seasonal increase in summer driving, higher oil costs and more expensive ethanol that was blended into gasoline.
The other 25 percent of the price increase stemmed from lower gasoline production as refiners moved to using ethanol as the main clean-burning fuel additive and lingering damage from hurricanes Katrina and Rita that reduced refining capacity.
“Our targeted examination of major refinery outages revealed no evidence that refiners conspired to restrict supply or otherwise violated antitrust laws,” the FTC said. “We therefore conclude that further investigation of the nationwide 2006 gasoline price spike is not warranted at this time.”
Many lawmakers at the time had accused oil companies, which were raking in billions of dollars in record profits, of overcharging U.S. consumers at the pump.
President George W. Bush directed the FTC and the Justice and Energy Departments to look into whether manipulation or other illegal activity by oil companies was behind the sharp rise in gasoline prices.
The national retail monthly average gasoline price jumped from $2.28 a gallon in February 2006 to $2.89 by the beginning of May, and then declined slightly through June. Prices started rising again in July and hit a peak of $3.02 a gallon during the second week of August, and then took a steep decline to $2.18 by the end of October.
The FTC said its investigation found the increases in motor fuel prices “were caused by a confluence of factors reflecting the normal operation of the market.”
FTC Commissioner Jon Leibowitz dissented from the report’s conclusions and issued a separate statement that said the agency developed a “theoretical model” for why gasoline prices likely increased.

Leibowitz said he believes “there was profiteering (by oil companies) at the expense of consumers.”

Well hell you have gone a dun it this time, yep showed the rest of the world how much of a coward you are. My staff and I are here, where are you? If you would like to contact us or help in any way, you can contact us here thru the site or my e-mail

Richard

richmartinphotographer@yahoo.com

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